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Lion One Metals Ltd V.LIO

Alternate Symbol(s):  LOMLF | V.LIO.WT

Lion One Metals Limited is a Canadian gold producer. It is in the business of mineral exploration and evaluation and is focused on the development of mineral resources in Fiji. The Company is the owner and operator of the Tuvatu Gold Mine located on the island of Viti Levu in the Fiji Islands. The Tuvatu Gold Project has been fully permitted for development, construction, and mining by the Government of Fiji with the grant of a Special Mining Lease (SML 62). The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Property comprises four special prospecting licenses (SPL 62), with a total area of 20,170.5 hectares. It also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets. It holds four exploration licenses for the Tuvatu properties as granted by the mineral resources department.


TSXV:LIO - Post by User

Bullboard Posts
Comment by tarnoiron Mar 05, 2020 12:09pm
256 Views
Post# 30770834

RE:All Aboard

RE:All AboardI agree, not very forthcoming. I have learned recently that much of the 'change of course' was due to Quinton Hennigh (Technical advisor) wanting to see what lies beneath. Quinton, as far as I know, is more of an exploration geologist, not a mine builder. He swayed them to drill deep and now they are still an exploraco with little leverage to rising Au prices like a mine producing gold would have. They are drilling uber deep - like 1 mile deep. This might remain a spec play for some time as Quinton wants to keep spending $$ on proving up a deep underground resource. These drill programs are very expensive and may ultimately lead to further dilution of shareholders. Look at KNT - kick butt in PNG. Expanding production even - took the small mine approach, built up c/f and now are expanding. I thought LIO would take the same path - now it's clear, that's not going to happen. QH is a guy who appears to swing for the fences. 
Bullboard Posts